5G Device Testing Market growth in South Korea at a 9.6% CAGR in forecast period

Increasing investments and government initiatives towards 5G infrastructure development in South Korea to boost the need for 5G Device Testing Market in the country.

South Korea is at the forefront of the global 5G revolution, and a vital component of this progress is the booming 5G device testing market. The country's commitment to technological advancement and rigorous testing standards has led to remarkable growth, with several key factors driving this expansion. South Korea is one of the leading countries in developing a 5G-enabled network. It is the global headquarters of some significant players, such as SK Telecom, Samsung, KT Corporation, and LG Corporation. By the end of June 2022, the country had 215,000 5G base stations, covering about 85 cities.

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South Korea is a leader in 5G adoption, boasting one of the world's highest 5G penetration rates. As of April 2023, the country had over 30 million 5G subscribers, reflecting a strong demand for 5G-enabled devices and services. 38% of the total 80.2 million mobile subscribers in South Korea were 5G users. The top three telecom operators of South Korea commercially launched full-fledged 5G mobile networks on 3 April 2019. SK Telecom had the highest number of 5G users at 14.7 million. KT Corporation and LG U+ had 9.3 million and 6.7 million 5G users, respectively. Telecom companies in the country are witnessing high data usage, thus necessitating the need to develop 5G infrastructure

The proliferation of 5G has led to a diverse range of devices, including smartphones, IoT gadgets, industrial equipment, and autonomous vehicles. The variety of devices necessitates comprehensive testing to ensure compatibility, performance, and security. Moreover, South Korea has earned its place as a global tech hub, collaborating with international partners on 5G technology development and testing. This collaboration enhances the country's position in the global 5G ecosystem. NATIONAL INSTRUMENTS CORP. (US) and Samsung (South Korea) have agreed to collaborate on IODT in which Samsung's 5G NR-capable commercial base station connects with a test UE developed by NI at 28 GHz over the air and in real time.

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The South Korean government has played a pivotal role in propelling the growth of the 5G device testing market. The government has introduced policies and incentives to encourage investment in 5G technology, including testing and development. These initiatives have led to a conducive environment for testing and innovation. Government and private sector investments drive innovation in testing methodologies, security protocols, and performance optimization. In May 2022, Nokia and Contela announced that they signed a Memorandum of Understanding (MoU) to provide industry-leading, reliable and customized private 5G network solutions to Korean public sector organizations. In July 2020, South Korea's three major mobile operators have agreed to invest USD 22 billion to boost 5G infrastructure across the country. To help fund this latest 5G infrastructure initiative, the government has granted the carriers tax support in the form of tax credits and other reductions specifically for telecom companies. The redirected funds are expected to be used to expand the current 14.3% nationwide 5G coverage up to 70% by 2025. Growing investments and government initiative to help drive the 5G device testing market in South Korea.

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